A new decade means that we will face new opportunities and new threats. One of the biggest threats will be world population. Research has shown that there are a lot of trends in ‘healthy ageing’, resulting in an ever growing higher life expectancy, meaning more seniors. Due to this, the number of seniors in the USA is expected to double this decade. Therefor the demand for senior housing will increase drastically this decade. Developers have been anticipating to this trend by building a huge number of senior housing facilities throughout America. This resulted in a surplus of senior housing for the next couple years and communities are having trouble with filling their vacancies. This means that if you explore your options and you look carefully, you definitely should be able to find spectacular deals, before the rest of the country starts looking!
Now it is the time to reconsider moving to a senior living community for yourself, family or acquaintances. Factors like location, service fees, quality of food and care load will have an impact on the total cost. In order to budget appropriately you should consider these factors. When you have a clear image on the location, care load and the other needs you will be able to find beautiful new senior housing facilities at remarkably affordable prices. Below we explain the average costs for senior housing and where you should look to find these opportunities.
What are the costs of senior housing?
Recent studies have shown that the prices for senior housing have been increasing dramatically the past decades, as the amount of seniors has been growing. The cost for senior housing has been ranging from relatively affordable to as high as $10,000 per month. These outcomes have caused heavy debates on how we should care for the older generations. Luckily, the increasing demand has now led to the development of many more senior care facilities and they have now become surprisingly affordable. The price depends on the factors named above and whether you would like to stay in a shared or a private room. Nowadays, some seniors prefer shared rooms because they don’t want to feel alone, and save some money in the meantime!
The Senior Care facilities do not want to actively promote the cheapest vacancies, because most contracts contain fixed prices for a minimum period of 5 years. Fixing the rates for a long period is not very profitable in the long run, as prices are currently low. For the developers these projects are long term projects, so they do not mind waiting a few years. When the demand for senior housing increases the fixed prices are much more lucrative. So, where should you look? Now the demand is this low and the supply is high, you should definitely do your research so you can save up to tens of thousands of dollars. Start your research today, research the city and local areas, call senior housing facilities and use the web. Don’t wait out because
the demand will increase very soon and it will cost you tens of thousands of dollars. Get started now!
Coaching Expert hired by several Fortune500 companies, speaks five languages, currently learning Japanese and Italian.